In the case of DCIT Vs Pravardhan Seeds Pvt. Ltd., ITAT Hyderabad ruled that agricultural activities for seed production qualify for tax exemption under section 10(1) of the Income Tax Act.
Chandigarh Freight Carrier vs PCIT case delves into tax deduction issues under Section 194C. Detailed analysis reveals how compliance and jurisdiction were evaluated by ITAT Delhi.
ITAT Delhi deletes penalties imposed under section 271(1)(c) for concealment of income/filing inaccurate particulars in Babita Khurana vs DCIT case. Detailed analysis and ruling provided.
Shri Palabathuni Chandra Ravi Vs ITO (ITAT Hyderabad) Facts of the case, in brief, are that the assessee is an individual and filed his return of income electronically on 21.1.2018 declaring total income at Rs.6,21,210/-. During the course of assessment proceedings, it was noticed by the Assessing Officer that the assessee deposited a total of […]
ITAT Chennai held that disallowance of deduction u/s 80IA of the Income Tax Act unsustainable as cost of power imported is charged before computing income eligible for deduction u/s 80IA.
Sri. Sandeep Patwari Vs DCIT (ITAT Bangalore) Violation of procedural norm does not extinguish substantive right of claiming Foreign Tax credit (FTC) Assessee received 143(1) intimation wherein the foreign tax credit (FTC) of Rs.14,02,442 was not granted. Rectification application filed u/s 154 too did not allow the claim of the assessee. CIT(A) confirmed the 154 […]
AO not shown that alleged income escaped for assessment is represented in the form of an asset. What is assessed in this year u/s 153A of the Act is the addition towards alleged bogus purchases and disallowance of salary/professional fee u/s 37 of the Act.
Tirumala Tirupati Devasthanams Employees Co Op. Credit Society Vs ITO (ITAT Hyderabad) In the case on hand, undisputedly, the interest arose on the credit balances with reference to the regular course of business of the assessee. On this aspect, the Hon’ble jurisdiction High Court in Vavveru Co-operative Rural Bank Ltd. (supra), held that, if the […]
Ravindra K Reshamwala Vs DCIT (ITAT Mumbai) ITAT Mumbai held in favour of assessee with a reason that on the date of giving donation, the registration of the institute was valid u/s 35(1)(ii) granting approval. So deduction for donation can not be disallowed. FULL TEXT OF THE ORDER OF ITAT MUMBAI This appeal filed by […]
ITAT Mumbai held that re-assessment under section 147 of the Income Tax Act not sustainable as assessee duly provided full and true material facts necessary for the assessment.
